Noodles & Company Stock to Reverse Split on Wednesday, February 18th (NASDAQ:NDLS)

Shares of Noodles & Company (NASDAQ:NDLS) are going to reverse split on the morning of Wednesday, February 18th. The 1-8 reverse split was announced on Wednesday, February 4th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, February 17th.

Noodles & Company Stock Performance

NDLS opened at $0.49 on Friday. Noodles & Company has a 52-week low of $0.47 and a 52-week high of $1.74. The firm has a market capitalization of $23.04 million, a PE ratio of -0.50 and a beta of 1.54. The business’s 50-day simple moving average is $0.71 and its 200 day simple moving average is $0.72.

Analyst Ratings Changes

Several equities research analysts have recently commented on NDLS shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Noodles & Company in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Noodles & Company to a “sell” rating in a research note on Saturday, December 20th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $3.00.

Institutional Investors Weigh In On Noodles & Company

Several hedge funds have recently bought and sold shares of NDLS. State Street Corp grew its position in shares of Noodles & Company by 31.1% in the fourth quarter. State Street Corp now owns 181,963 shares of the restaurant operator’s stock valued at $128,000 after purchasing an additional 43,211 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Noodles & Company by 35.7% in the 4th quarter. Renaissance Technologies LLC now owns 93,500 shares of the restaurant operator’s stock valued at $66,000 after purchasing an additional 24,600 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Noodles & Company by 34,246.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 49,802 shares of the restaurant operator’s stock valued at $35,000 after purchasing an additional 49,657 shares during the period. Geode Capital Management LLC grew its holdings in Noodles & Company by 7.6% in the 4th quarter. Geode Capital Management LLC now owns 389,421 shares of the restaurant operator’s stock valued at $275,000 after buying an additional 27,384 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Noodles & Company by 117.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 44,630 shares of the restaurant operator’s stock worth $32,000 after buying an additional 24,065 shares during the period. 65.67% of the stock is currently owned by institutional investors and hedge funds.

About Noodles & Company

Noodles & Company is an American fast-casual restaurant chain that specializes in a variety of noodle and pasta dishes inspired by global cuisines. Its menu features signature entrees such as the Wisconsin Mac & Cheese and Japanese Pan Noodles, alongside soups, salads, shareable sides and seasonal offerings. The brand emphasizes fresh ingredients, customizable meals and a quick-service format designed to accommodate dine-in, takeout and digital ordering channels.

The company was founded in 1995 by Aaron Kennedy in Boulder, Colorado, with the aim of introducing a diverse noodle-centric menu to the American market.